The key to marketing active adult communities is understanding the 55+ buyer and what motivates them. In our recent webinar, “WHAT YOUR 55+ CONSUMERS WANT,” we covered homebuyer insights, the impact of COVID-19 and marketing opportunities to take advantage of right now. Barbara Wray, Wick’s Director of Growth and Innovation, was joined by:
- Deborah Blake, Principal of The Ipsum Group and an expert in the evolving 55+ consumer real estate space
- Michelle Pearl, Lifestyle Director for Pardee Homes’ Altis, an award-winning 55+ community in Beaumont, California
We came away with five major insights to help shape your 55+ marketing strategies.
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- To reach the 55+ consumer, you need to understand who they are, what they want and how they want it — and give it to them.
These are discretionary and self-actualizing buyers, who strongly dislike being “sold to.” As Deborah Blake put it, the 55+ mindset is, “I’ve got time. My house is okay. Let me see what’s out there, and I’ll make a decision when it’s good for me.”
Active adult consumers want the amenities and activities an age-targeted or -restricted community can offer, but prefer to discover everything for themselves. Social connections are important, and they place a high premium on finding a community of like-minded friends. It’s all about living their best lives, now. Moving the Boomer buyer along the path to purchase is about making the lifestyle and community visible, accessible and inclusive — online and in-person — well before they’re ready to purchase.
Affordability is important and is evaluated in terms of total cost of ownership. They’ll spend more on lot premiums, design upgrades and aren’t typically concerned with appraisals. But HOA fees, maintenance costs and utility expenses are potential deal breakers. They only want to pay for what they use, so it may make sense to offer a menu of services and keep HOA fees low.
- To reach the 55+ consumer, you need to understand who they are, what they want and how they want it — and give it to them.
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- COVID-19 has increased interest and demand for active adult communities. The market is booming.
Like most of us, the 55+ crowd has been stuck at home, disconnected and isolated for too long. They watched in horror as the coronavirus devastated nursing homes and assisted living communities, fueling the desire to age in place. This buyer is eager to get control of what they can control, and get on with it.
Boomer buyers do an in-depth investigation when purchasing a new home, so be sure your digital tools are up for the job. Deborah said the website can be the “great equalizer for all builders.” Every builder can use its website to deliver a transparent, easy-to-navigate, highly visual experience, and provide clarity around what the shopping experience is like.
That big family home? Millennials want it after all. For working from home, for homeschooling, for a backyard or even a pool. They have purchasing power and low interest rates in their favor, and all of this can mean a seller’s market for this group.
- COVID-19 has increased interest and demand for active adult communities. The market is booming.
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- Know today’s pain points and solve them with your marketing messages.
Even after they’ve decided to move, obstacles include the huge undertaking of downsizing the family home, selling their current home and packing up. Content, events and services that help to solve any of these issues remove these barriers for prospects, and also help to attract others who may be aiming to solve those very problems before they begin their search.
Prior to COVID-19, about 85 percent of all residents living in an active adult community were married. But now, more than 50 percent of all Boomer women are single. Messaging that matters to these buyers includes safety and a strong sense of community.
- Know today’s pain points and solve them with your marketing messages.
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- Keep the lifestyle and connections alive, no matter what.
Events allow prospective customers to experience the lifestyle, get to know other residents and see for themselves what it’s like to live in your community. World-class Lifestyle Director Michelle Pearl has kept the Altis community connected and active all throughout the pandemic.
If you’re looking for ideas for your community, the webinar is full of them! Every week Michelle creates a robust range of activities, from entirely online entertainment at the Altis Virtual Clubhouse to hybrid in-person/online events, and even socially distanced “Together Apart” outdoor activities. Michelle told us that “the biggest mistake that you can make with [55+ adults] is to put them all in the same basket.” The key to success is making each event adaptable to the individual’s comfort level.
Through it all, the Altis community has welcomed prospective buyers and backlog customers to join in the fun. The more the merrier — and the better the marketing. Those opportunities for prospective buyers to connect with current residents do wonders to reduce cycle time to purchase, and help protect your backlog.
Michelle’s innovative approach has proven so successful, she and her team plan to continue designing every event for both in-person and Zoom-based participation. It’s a great way to bring in buyers and residents who may be more COVID-cautious, while also including relocators from farther away.
- Keep the lifestyle and connections alive, no matter what.
- Facebook is where you’ll find this buyer. Remember to build your digital community, too.
“If the lifestyle doesn’t satisfy them, if they don’t feel confident that they’re going to find their people here, then they don’t really need to look at the floor plans,” said Barbara Wray. And a big part of showcasing the lifestyle for an active adult community needs to be on Facebook, where the 55+ crowd is the fastest growing segment.
Capture their attention by sharing photo and video content that includes residents. Be consistent, timely and courteous as you manage questions on the page and in the private message channel. This buyer will engage, and Facebook may be their first impression of your community and how they can expect to be treated.
If you’d like to learn more, make sure to watch the webinar video.
Looking for fresh ideas and tactics for your active adult community? Wick Marketing is here to help. For more than 25 years, our agency has served homebuilder and master-planned community clients in markets from California to Florida. We’ve got the experience and the expertise to move you forward. To get started, contact barbara@wickmarketing.com or call (512) 479-9834.
